After setting some impressive all-time records, something that was considered a one-hit-wonder app proved everybody wrong and became a strong challenger in the race for the world’s biggest social media platform.
To improve its chance in this conquest, this year TikTok decided to invest its efforts in features that will attract some serious bucks on the platform in order to keep its top creators and brands interested in the future creations on TikTok. So far in 2021, the app introduced numerous tools and formats in order to push toward bigger monetization like Creator Marketplace, Dynamic Product Ads, lead generation options, partnership with Shopify and gifting when live streaming.
Platform’s latest experiment involves a more direct approach allowing creators to receive gifts from their followers – tipping feature! The first one to notice and share this news is Jera Bean who posted a video in which is shown how the new option works. The social media giant, TikTok confirmed that this feature is currently a part of a limited test.
The feature is also currently available to a small number of users. According to the video, creators need at least 100,000 followers on their account which must be in good standing to be taken into consideration for the tipping feature. Besides these major requirements, users must meet an age requirement and agree to TikTok’s tips terms and conditions. Creators that have their application approved will receive a Tips button on their profiles which will allow anybody visiting their account to send them a direct payment.
Currently, TikTok will not interfere in any of the payments between creators and their supporters. So, creators take a whole cut of the money, but it isn’t specified whether this will be the case after the test phase is completed, though.
When it comes to supporters, after hitting a Tip button, they will have an option to send anywhere from $1 to a custom amount, and it can be done anonymously by ticking a box in the whole process.
This latest feature is considered to be an extremely effective way in TikTok’s aim to boost revenue possibilities for their top creators and reshift their focus when it comes to earning a living through its platform compared to more traditional and lucrative ones like Youtube and Instagram. Viewers get to fund their favorite accounts and boost their creativity in a very direct manner.
Also, many other platforms are looking for ways to help creators make money on their channels as Twitter did with its “Tip Jar” option. This new trend will surely get people at TikTok going in order to make this latest feature up and going on broader scales as soon as possible.We can surely expect even more attempts like this one in the near future by TikTok that will help the company catch up with the competition when it comes to making money for creators. Contact us if you want free TikTok strategy created for your brand!